Competition and Markets Authority
UK competition regulator the CMA has referred the proposed merger of Liberty Global-owned Virgin Media and Virgin Mobile with Telefónica’s O2 for an in-depth Phase 2 probe following Virgin and O2’s request that the watchdog move quickly to this stage through a ‘fast-track’ process.
Mobile network Three is reportedly set to acquire its rival O2 for more than £10bn in cash. Hong Kong tycoon Li Ka-shing is set to become one of the biggest foreign investors in the UK when his Hutchison Whampoa conglomerate acquires the O2 network from its Spanish owner Telefónica.